Section 8 Fair Market Rent (FMR) for ZIP 47308 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 47308 in Muncie County, Indiana, presents a unique set of characteristics that distinguish it from other areas. With limited data available—such as the number of residents, percentage renting, median income, and median home value—it's challenging to provide a comprehensive overview of the area's demographics. However, focusing on the Section 8 voucher economics offers valuable insights.

The Fair Market Rent (FMR) for ZIP 47308 is set at $950 for the fiscal year 2024. This figure is crucial for landlords and small-portfolio investors as it indicates the maximum rental amount that can be charged to tenants using Section 8 vouchers. While the exact market rent for the area is not specified, the FMR serves as a benchmark for assessing rental prices and ensuring compliance with HUD guidelines.

In terms of the overall economic stability of the ZIP code, the data suggests a transitional phase. The lack of detailed demographic information, combined with the specific FMR, points towards an evolving housing market. Landlords should be prepared for changes in tenant demand and rental dynamics as the area continues to develop.

To summarize, ZIP 47308 in Muncie County, Indiana, has a defined FMR of $950 for the upcoming fiscal year, which is essential for landlords participating in the Section 8 program. Despite the incomplete demographic data, the area appears to be in a transitional state, indicating potential shifts in the local housing market. Investors should monitor these trends closely to make informed decisions.

Data Sources: FMR data from HUD (2027).

About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.